Medical Display Monitors Market
Medical Display Monitors Market Forecasts to 2030 - Global Analysis By Display Color (Grey scale and Color), Aspect Ratio (16:09 and 21:09), Resolution, Panel size, Technology, Application and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $619.81 MN |
|
Projected Year Value (2030) |
US $1,021.61 MN |
|
CAGR (2023 - 2030) |
7.4% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Medical Display Monitors Market is accounted for $619.81 million in 2023 and is expected to reach $1,021.61 million by 2030 growing at a CAGR of 7.4% during the forecast period. Medical display monitors are specialized screens used in healthcare settings to visualize medical images such as X-rays, MRIs, CT scans, and other diagnostic imaging. These monitors are designed to meet strict medical imaging standards, ensuring accurate and high-resolution representation of medical data. They are calibrated to display precise and consistent colors, allowing healthcare professionals to make accurate diagnoses.
According to the American Cancer Society (ACS), the number of cancer cases diagnosed in the U.S. would stand at 1,688,780 for the year 2017. It was also estimated that in 2017, almost 13% of young population (20 years and above) would be affected by rare cancer in the ratio of 6 cases per 100,000.
Market Dynamics:
Driver:
Increasing awareness about early diagnosis
As healthcare stakeholders prioritize preventive measures, there is a growing emphasis on the importance of early detection and timely intervention. Medical display monitors play a crucial role in facilitating accurate and detailed imaging for diagnostic purposes. With heightened awareness among healthcare professionals and patients about the impact of early diagnosis on treatment outcomes, the demand for advanced, high-resolution display monitors has surged. This trend is further fueled by technological advancements in medical imaging, reinforcing the significance of early detection in improving patient outcomes and reducing healthcare costs.
Restraint:
Costs and affordability
The cost and affordability restraints in the medical display monitor market are shaped by the advanced technologies and stringent quality standards required for medical imaging. High-resolution displays with precise color reproduction and DICOM compliance contribute to elevated manufacturing costs. Regulatory compliance, including certifications for medical use, further adds to expenses. The niche market size and specialized manufacturing processes limit economies of scale, making it challenging to achieve cost reductions.
Opportunity:
Digital pathology and surgical displays
Digital pathology involves the use of digital technology to process, manage, and interpret pathology information from glass slides. In the context of medical display monitor market opportunities, the integration of high-quality surgical displays is crucial for digital pathology and surgical procedures. Medical display monitors tailored for these applications provide enhanced visualization of pathology images, enabling accurate diagnostics and streamlined surgical interventions. This creates a significant market opportunity as healthcare institutions increasingly adopt digital pathology solutions, driving demand for specialized medical displays that deliver precision and clarity.
Threat:
Regulatory compliance and certification
In the medical display monitor market, regulatory compliance and certification pose significant threats. Stringent regulatory requirements, such as those set by organizations like the FDA and the European Medicines Agency, demand adherence to strict quality and safety standards. Failure to meet these standards can result in legal consequences, product recalls, and damage to the manufacturer's reputation. Obtaining and maintaining certifications, such as ISO 13485 for medical devices, is crucial but can be a complex and resource-intensive process.
Covid-19 Impact:
With the surge in healthcare demands, there has been a heightened need for advanced diagnostic and imaging technologies, driving the demand for high-quality medical display monitors. The increased use of telemedicine and remote diagnostics during the pandemic has further fueled this demand. However, supply chain disruptions and manufacturing challenges have led to temporary shortages and delays in product availability. As healthcare facilities adapt to the new normal, the medical display monitor market is expected to witness sustained growth, driven by ongoing investments in healthcare infrastructure and technology to enhance diagnostic capabilities.
The color segment is expected to be the largest during the forecast period
The color segment in the medical display monitor market has witnessed significant growth due to the increasing demand for accurate and high-resolution imaging in medical diagnostics. As medical imaging technologies advance, the need for displays with superior color reproduction and clarity becomes paramount. Color displays play a crucial role in accurately visualizing medical images such as X-rays, MRIs, and CT scans, enabling healthcare professionals to make precise diagnoses. Additionally, the growing adoption of advanced imaging modalities, coupled with the emphasis on early and accurate disease detection, continues to drive the expansion of the color segment in the medical display monitor market.
The general radiology segment is expected to have the highest CAGR during the forecast period
The general radiology segment is experiencing substantial growth in the medical display monitor market due to advancements in imaging technologies and an increasing demand for high-quality diagnostic displays. The rising prevalence of various medical conditions and the need for accurate and detailed imaging for diagnostic purposes are driving the adoption of specialized radiology monitors. Moreover, a growing emphasis on early detection and diagnosis is fuelling the demand for improved visualization tools in general radiology. Furthermore, this growth is likely to persist as healthcare facilities worldwide prioritize investing in state-of-the-art imaging solutions to enhance diagnostic capabilities.
Region with largest share:
North America has experienced significant growth in the medical display monitor market, driven by advancements in healthcare technology. The region's robust healthcare infrastructure, coupled with a rising focus on early and accurate diagnosis, has fuelled the adoption of advanced display solutions. Moreover, the prevalence of chronic diseases and the need for effective medical imaging have further boosted the market. Technological innovations, such as high-resolution displays and colour accuracy, have also contributed to the surge in demand.
Region with highest CAGR:
The Asia-Pacific region has experienced substantial growth in the medical display monitor market, driven by increasing healthcare infrastructure development, rising demand for advanced diagnostic imaging technologies. The adoption of digital imaging systems, such as PACS, has fuelled the need for high-quality medical display monitors in the region. Additionally, government initiatives and investments in healthcare technology across countries like China, Japan, and India have played a pivotal role in accelerating market expansion.
Key players in the market
Some of the key players in Medical Display Monitors market include Advantech Co. Ltd., ASUSTeK Computer Inc, Barco NV, Dell Technologies Inc , Double Black Imaging, Eizo Corp, FUJIFILM Corp, HP Inc, Koninklijke Philips N.V., LG Corp, Qisda Corp, Richardson Electronics Ltd, Siemens Healthineers AG and Sony Group Corp.
Key Developments:
In January 2023, Dell Technologies has introduced ObjectScale version 1.3, a groundbreaking software innovation that redefines the landscape of object storage. This latest release is offered as a fully integrated, turnkey solution, and takes the form of ObjectScale XF960, an all-flash appliance that brings unprecedented speed, sustainability, and security to object storage architecture.
In November 2023, Leading Taiwan-based tech brand Asustek Computer Inc. is planning to set up a production line in the United States, with mass production scheduled for 2024. In a statement, Asustek confirmed that it will assemble semi-finished products for server production in the facility planned for Silicon Valley at a time of booming opportunities worldwide created by advances in artificial intelligence applications.
Display Colors Covered:
• Grey scale
• Color
Aspect Ratios Covered:
• 16:09
• 21:09
• 4:03
Resolutions Covered:
• Up to 2MP
• 3MP–4MP
• 5MP–8MP
• Above 8MP
Panel sizes Covered:
• Under 22.9 inches
• 23.0–26.9 inches
• 27.0–41.9 inches
• Above 42 inches
Technologies Covered:
• Cold Cathode Fluorescent Lamps (CCFL)
• Light Emitting diode (LED)
• Organic Light Emitting Diodes (OLED)
Applications Covered:
• Dentistry
• Digital Pathology
• Mammography
• General Radiology
• Surgery
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Medical Display Monitors Market, By Display Color
5.1 Introduction
5.2 Grey scale
5.3 Color
6 Global Medical Display Monitors Market, By Aspect Ratio
6.1 Introduction
6.2 16:09
6.3 21:09
6.4 4:03
7 Global Medical Display Monitors Market, By Resolution
7.1 Introduction
7.2 Up to 2MP
7.3 3MP–4MP
7.4 5MP–8MP
7.5 Above 8MP
8 Global Medical Display Monitors Market, By Panel size
8.1 Introduction
8.2 Under 22.9 inches
8.3 23.0–26.9 inches
8.4 27.0–41.9 inches
8.5 Above 42 inches
9 Global Medical Display Monitors Market, By Technology
9.1 Introduction
9.2 Cold Cathode Fluorescent Lamps (CCFL)
9.3 Light Emitting diode (LED)
9.4 Organic Light Emitting Diodes (OLED)
10 Global Medical Display Monitors Market, By Application
10.1 Introduction
10.2 Dentistry
10.3 Digital Pathology
10.4 Mammography
10.5 General Radiology
10.6 Surgery
10.7 Other Applications
11 Global Medical Display Monitors Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Advantech Co. Ltd.
13.2 ASUSTeK Computer Inc
13.3 Barco NV
13.4 Dell Technologies Inc
13.5 Double Black Imaging
13.6 Eizo Corp
13.7 FUJIFILM Corp
13.8 HP Inc
13.9 Koninklijke Philips N.V.
13.10 LG Corp
13.11 Qisda Corp
13.12 Richardson Electronics Ltd
13.13 Siemens Healthineers AG
13.14 Sony Group Corp
List of Tables
1 Global Medical Display Monitors Market Outlook, By Region (2021-2030) ($MN)
2 Global Medical Display Monitors Market Outlook, By Display Color (2021-2030) ($MN)
3 Global Medical Display Monitors Market Outlook, By Grey scale (2021-2030) ($MN)
4 Global Medical Display Monitors Market Outlook, By Color (2021-2030) ($MN)
5 Global Medical Display Monitors Market Outlook, By Aspect Ratio (2021-2030) ($MN)
6 Global Medical Display Monitors Market Outlook, By 16:09 (2021-2030) ($MN)
7 Global Medical Display Monitors Market Outlook, By 21:09 (2021-2030) ($MN)
8 Global Medical Display Monitors Market Outlook, By 4:03 (2021-2030) ($MN)
9 Global Medical Display Monitors Market Outlook, By Resolution (2021-2030) ($MN)
10 Global Medical Display Monitors Market Outlook, By Up to 2MP (2021-2030) ($MN)
11 Global Medical Display Monitors Market Outlook, By 3MP–4MP (2021-2030) ($MN)
12 Global Medical Display Monitors Market Outlook, By 5MP–8MP (2021-2030) ($MN)
13 Global Medical Display Monitors Market Outlook, By Above 8MP (2021-2030) ($MN)
14 Global Medical Display Monitors Market Outlook, By Panel size (2021-2030) ($MN)
15 Global Medical Display Monitors Market Outlook, By Under 22.9 inches (2021-2030) ($MN)
16 Global Medical Display Monitors Market Outlook, By 23.0–26.9 inches (2021-2030) ($MN)
17 Global Medical Display Monitors Market Outlook, By 27.0–41.9 inches (2021-2030) ($MN)
18 Global Medical Display Monitors Market Outlook, By Above 42 inches (2021-2030) ($MN)
19 Global Medical Display Monitors Market Outlook, By Technology (2021-2030) ($MN)
20 Global Medical Display Monitors Market Outlook, By Cold Cathode Fluorescent Lamps (CCFL) (2021-2030) ($MN)
21 Global Medical Display Monitors Market Outlook, By Light Emitting diode (LED) (2021-2030) ($MN)
22 Global Medical Display Monitors Market Outlook, By Organic Light Emitting Diodes (OLED) (2021-2030) ($MN)
23 Global Medical Display Monitors Market Outlook, By Application (2021-2030) ($MN)
24 Global Medical Display Monitors Market Outlook, By Dentistry (2021-2030) ($MN)
25 Global Medical Display Monitors Market Outlook, By Digital Pathology (2021-2030) ($MN)
26 Global Medical Display Monitors Market Outlook, By Mammography (2021-2030) ($MN)
27 Global Medical Display Monitors Market Outlook, By General Radiology (2021-2030) ($MN)
28 Global Medical Display Monitors Market Outlook, By Surgery (2021-2030) ($MN)
29 Global Medical Display Monitors Market Outlook, By Other Applications (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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